UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G
                    UNDER THE SECURITIES EXCHANGE ACT OF 1934

                         MEDICAL PROPERTIES TRUST, INC.
                                (Name of Issuer)

                         COMMON STOCK, $0.001 PAR VALUE
                         (Title of Class of Securities)

                                    58463J304
                                 (CUSIP NUMBER)

                                  JULY 8, 2005
             (Date of event which requires filing of this statement)

      Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

|_|  Rule 13d-1(b)

|X|  Rule 13d-1(c)

|_|  Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
notes).


                               Page 1 of 10 Pages



CUSIP No. 58463J304                13G                       Page 2 of 10 Pages

--------------------------------------------------------------------------------
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

     Millennium Partners, L.P.
     13-3521699
--------------------------------------------------------------------------------
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                                 (a)  |X|
                                                                 (b)  |_|
--------------------------------------------------------------------------------
3.   SEC USE ONLY


--------------------------------------------------------------------------------
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

     Cayman Islands
--------------------------------------------------------------------------------
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           -0-
               -----------------------------------------------------------------
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          1,500,000
               -----------------------------------------------------------------
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         -0-
               -----------------------------------------------------------------
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            1,500,000
--------------------------------------------------------------------------------
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     1,500,000
--------------------------------------------------------------------------------
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                          |_|
--------------------------------------------------------------------------------
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

     4.0%
--------------------------------------------------------------------------------
12.  TYPE OF REPORTING PERSON*

     PN
--------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 58463J304                13G                       Page 3 of 10 Pages

--------------------------------------------------------------------------------
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

     Millenco, L.P.
     13-3532932
--------------------------------------------------------------------------------
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                                 (a)  |X|
                                                                 (b)  |_|
--------------------------------------------------------------------------------
3.   SEC USE ONLY


--------------------------------------------------------------------------------
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

     Delaware
--------------------------------------------------------------------------------
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           -0-
               -----------------------------------------------------------------
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          700,000
               -----------------------------------------------------------------
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         -0-
               -----------------------------------------------------------------
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            700,000
--------------------------------------------------------------------------------
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     700,000
--------------------------------------------------------------------------------
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                          |_|
--------------------------------------------------------------------------------
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

     1.9%
--------------------------------------------------------------------------------
12.  TYPE OF REPORTING PERSON*

     PN, BD
--------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 58463J304                13G                       Page 4 of 10 Pages

--------------------------------------------------------------------------------
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

     Millennium Management, L.L.C.
     13-3804139
--------------------------------------------------------------------------------
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                                 (a)  |X|
                                                                 (b)  |_|
--------------------------------------------------------------------------------
3.   SEC USE ONLY


--------------------------------------------------------------------------------
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

     Delaware
--------------------------------------------------------------------------------
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           -0-
               -----------------------------------------------------------------
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          2,200,000
               -----------------------------------------------------------------
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         -0-
               -----------------------------------------------------------------
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            2,200,000
--------------------------------------------------------------------------------
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     2,200,000
--------------------------------------------------------------------------------
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                          |_|
--------------------------------------------------------------------------------
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

     5.8%
--------------------------------------------------------------------------------
12.  TYPE OF REPORTING PERSON*

     OO
--------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 58463J304                13G                       Page 5 of 10 Pages

--------------------------------------------------------------------------------
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

     Israel A. Englander
--------------------------------------------------------------------------------
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                                 (a)  |X|
                                                                 (b)  |_|
--------------------------------------------------------------------------------
3.   SEC USE ONLY


--------------------------------------------------------------------------------
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

     United States
--------------------------------------------------------------------------------
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           -0-
               -----------------------------------------------------------------
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          2,200,000
               -----------------------------------------------------------------
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         -0-
               -----------------------------------------------------------------
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            2,200,000
--------------------------------------------------------------------------------
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     2,200,000
--------------------------------------------------------------------------------
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                          |_|
--------------------------------------------------------------------------------
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

     5.8%
--------------------------------------------------------------------------------
12.  TYPE OF REPORTING PERSON*

     IN
--------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 58463J304                13G                       Page 6 of 10 Pages

Item 1.

(a)   Name of Issuer

      Medical Properties Trust, Inc., a company incorporated under the laws of
      Maryland (the "Company").

(b)   Address of Issuer's Principal Executive Offices:

      1000 Urban Center Drive, Suite 501
      Birmingham, Alabama 35242

Item 2(a).  Name of Person Filing
Item 2(b).  Address of Principal Business Office
Item 2(c).  Citizenship

            Millennium Partners, L.P.
            c/o Millennium Management, L.L.C.
            666 Fifth Avenue
            New York, New York 10103
            Citizenship: Cayman Islands

            Millenco, L.P.
            c/o Millennium Management, L.L.C.
            666 Fifth Avenue
            New York, New York 10103
            Citizenship: Delaware

            Millennium Management, L.L.C.
            666 Fifth Avenue
            New York, New York 10103
            Citizenship: Delaware

            Israel A. Englander
            c/o Millennium Management, L.L.C.
            666 Fifth Avenue
            New York, New York 10103
            Citizenship: United States

(d)   Title of Class of Securities

      Common Stock, $0.001 par value ("Common Stock")

(e)   CUSIP Number

      58463J304

      Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b),
      check whether the person filing is a:

(a)   |_|  Broker or dealer registered under Section 15 of the Act (15 U.S.C.
           78o).

(b)   |_|  Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).

(c)   |_|  Insurance company as defined in Section 3(a)(19) of the Act (15
           U.S.C. 78c).



CUSIP No. 58463J304                13G                       Page 7 of 10 Pages


(d)   |_|  Investment company registered under Section 8 of the Investment
           Company Act of 1940 (15 U.S.C. 80a-8).

(e)   |_|  An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

(f)   |_|  An employee benefit plan or endowment fund in accordance with Rule
           13d-1(b)(1)(ii)(F);

(g)   |_|  A parent holding company or control person in accordance with Rule
           13d-1(b)(1)(ii)(G);

(h)   |_|  A savings association as defined in Section 3(b) of the Federal
           Deposit Insurance Act (12 U.S.C. 1813);

(i)   |_|  A church plan that is excluded from the definition of an investment
           company under Section 3(c)(14) of the Investment Company Act of
           1940 (15 U.S.C. 80a-3);

(j)   |_|  Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

If this statement is filed pursuant to Rule 13d-1(c), check this box. [X]

Item 4. Ownership

(a)   Amount Beneficially Owned

            As of the date of this filing, 1,500,000 shares of Common Stock were
held outright by Millennium Partners, L.P., a Cayman Islands exempted limited
partnership ("Millennium Partners") and 700,000 shares of Common Stock were held
outright by Millenco, L.P., a Delaware limited partnership and a registered
broker-dealer ("Millenco").

            The general partner of Millennium Partners and of Millenco is
Millennium Management, L.L.C., a Delaware limited liability company ("Millennium
Management"), and consequently, Millennium Management may be deemed to have
voting control and investment discretion over securities owned by Millennium
Partners and by Millenco. Israel A. Englander ("Mr. Englander") is the managing
member of Millennium Management. As a result, Mr. Englander may be deemed to be
the beneficial owner of any shares deemed to be beneficially owned by Millennium
Management. The foregoing should not be construed in and of itself as an
admission by either of Millennium Management or Mr. Englander as to beneficial
ownership of the shares owned by Millennium Partners or by Millenco.

            Note: Millennium Partners is a limited partner of Millenco. As a
limited partner, Millennium Partners has no investment or voting control over
Millenco or its securities position.

(b)   Percent of Class

            5.8% (see Item 4(a) above), which percentage was calculated based on
the aggregate number of shares of Common Stock to be outstanding after the
Company's initial public offering, as reported in the Company's final prospectus
filed pursuant to Rule 424(b)(4), dated as of July 7, 2005.



CUSIP No. 58463J304                13G                       Page 8 of 10 Pages


(c)   Number of shares as to which such person has:

            (i)   Sole power to vote or to direct the vote:

                  -0-

            (ii)  Shared power to vote or to direct the vote

                  2,200,000

            (iii) Sole power to dispose or to direct the disposition of

                  -0-

            (iv)  Shared power to dispose or to direct the disposition of

                  2,200,000

Item 5. Ownership of Five Percent or Less of a Class

            Not applicable.

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

            Not applicable.

Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company

            Not applicable.

Item 8. Identification and Classification of Members of the Group

            See Exhibit I.

Item 9. Notice of Dissolution of Group

            Not applicable.

Item 10. Certification

By signing below each of the undersigned certifies that, to the best of its
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.

Exhibits:

Exhibit I: Joint Filing Agreement, dated as of July 22, 2005, by and among
Millennium Partners, L.P., Millenco, L.P., Millennium Management, L.L.C. and
Israel A. Englander.



CUSIP No. 58463J304                13G                       Page 9 of 10 Pages


                                    SIGNATURE

After reasonable inquiry and to the best of its knowledge and belief, each of
the undersigned certifies that the information with respect to it set forth in
this statement is true, complete, and correct.

Dated: July 22, 2005

MILLENNIUM PARTNERS, L.P.                      MILLENCO, L.P.


By: Millennium Management, L.L.C.              By: Millennium Management, L.L.C.
    its managing partner                           its general partner


By:  /s/ Terry Feeney                          By:  /s/ Terry Feeney
   ------------------------------------           ------------------------------
   Name:  Terry Feeney                            Name:  Terry Feeney
   Title: Chief Operating Officer                 Title: Chief Operating Officer

                                               MILLENNIUM MANAGEMENT, L.L.C.
   /s/ Israel A. Englander by David
Nolan pursuant to Power of Attorney
filed with SEC on June 6, 2005                 By:  /s/ Terry Feeney
----------------------------------------          ------------------------------
ISRAEL A. ENGLANDER                               Name:  Terry Feeney
                                                  Title: Chief Operating Officer




CUSIP No. 58463J304                13G                       Page 10 of 10 Pages

                                    EXHIBIT I

                             JOINT FILING AGREEMENT

This will confirm the agreement by and among the undersigned that the Schedule
13G filed with the Securities and Exchange Commission on or about the date
hereof with respect to the beneficial ownership by the undersigned of the Common
Stock, $0.001 par value, of Medical Properties Trust, Inc., a company
incorporated under the laws of Maryland, is being filed, and all amendments
thereto will be filed, on behalf of each of the persons and entities named below
in accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as
amended. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

Dated: July 22, 2005

MILLENNIUM PARTNERS, L.P.                     MILLENCO, L.P.


By: Millennium Management, L.L.C.             By: Millennium Management, L.L.C.
    its managing partner                          its general partner


By:  /s/ Terry Feeney                         By:  /s/ Terry Feeney
   ----------------------------------            -------------------------------
   Name:  Terry Feeney                           Name:  Terry Feeney
   Title: Chief Operating Officer                Title: Chief Operating Officer


                                              MILLENNIUM MANAGEMENT, L.L.C.
   /s/ Israel A. Englander by David
Nolan pursuant to Power of Attorney
filed with SEC on June 6, 2005                By:  /s/ Terry Feeney
-------------------------------------            -------------------------------
ISRAEL A. ENGLANDER                              Name:  Terry Feeney
                                                 Title: Chief Operating Officer